The advisor units of the First Asset Canadian REIT exchange-traded fund (ETF) are now available, Toronto-based First Asset Management Inc. said on Tuesday. The fund’s units are trading on the Toronto Stock Exchange (TSX) under the symbol TSX: RIT.A.
The common class units of this ETF began trading on the TSX under the symbol TSX: RIT on July 14.
First Asset Canadian REIT ETF was recently converted into an ETF from a closed-end fund, following a final prospectus dated July 10 and filed to the securities regulators of all Canadian provinces and territories.
“Advisor units would generally be suitable only for investors who have retained an advisor to advise them regarding their purchase and who do not have a fee based account,” notes the asset manager’s announcement. “Investors purchasing through self-directed brokerage accounts would most likely consider the common units.”